- Russel 2000 Four hour chart.
- Price has gone above resistance level of 855. After breakout price is retesting this level.
- Price sustaining above 855 will be bullish for Russel 2000.
- Range from which the breakout happened was about 40 points. Weekly close above 855 may take Russel 2000 to 890 and above in the short term.
- Price sustaining below 855 will favor bears.
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
April 28, 2011
RUSSEL 2000 Trying to stay above resistance level
AMAZON Price Volume Breakout
- AMAZON Daily chart has given a breakout.
- Volume has also spiked above the daily average volume.
- Week chart was trading in a range of 160 - 190.
- Price has violated this range. If Week closes and sustains above 190 Amazon will TARGET 215 and above in the coming weeks.
- Price falling below 190 will be negative for the bulls.
- SLV CHART ANALYSIS
RELIANCE Breaks 1000
- Reliance has broken the important support at 1000. This number was between 50 and 200 day moving averages which makes it more important.
- As shown in the 2nd chart Break below and above 20 DMA has given nice trending moves recently. so this should work again But have the trailing stop in place.
- We discussed about selling the stochastic in weekly chart, This has worked and the profits for bears might extend if price sustains below 1000 level.
- RLEIANCE SELL THE STOCHASTIC
Subscribe to:
Posts (Atom)